Deutsche Bank forecasts three straight Fed rate hikes

Reuters reported on Nov. 10 that Deutsche Bank revised its earlier forecast, which called for hikes in December and March. The bank now expects a 25-basis-point increase at each of the next three meetings. Starting from the current 3.75%–4.00% range, that sequence would take rates to 4.00%–4.25% after December, 4.25%–4.50% after January and 4.50%–4.75% after March. Deutsche Bank has not ruled out a half-point December move, Reuters reported, citing comments by Fed Governor Christopher Waller, but its central forecast remains a smaller increase. The Federal Open Market Committee has not made those decisions. Its final 2026 meeting is scheduled for Dec. 8–9, alongside updated economic projections.

The Bureau of Labor Statistics said consumer prices rose 0.4% in October, after a 0.6% increase in September and above Reuters-polled economists’ 0.3% forecast. Core prices, excluding food and energy, rose 0.3% for a third consecutive month. Shelter costs increased 0.3% and accounted for more than 30% of the monthly overall gain; food rose 0.5% and energy 0.7%. The release did not include annual headline or core inflation readings because the agency lacked October 2025 data for comparison after last year’s government shutdown. Bitcoin fell below $74,000 after the report. At a Nov. 10 snapshot, it was around $73,784, down about 1% over 24 hours and 4.5% over the week.

Crypto funds had already recorded heavy withdrawals. US spot Bitcoin ETFs saw $1.28 billion in net outflows from Nov. 2–6, while Ether funds lost $365.2 million, according to Farside figures cited in coverage. BlackRock’s IBIT accounted for roughly $1.21 billion of Bitcoin ETF withdrawals, while Fidelity’s FBTC received $93.1 million. Bitget Wallet analysts said a lasting recovery would require stronger spot demand and sustained positive ETF flows, identifying $73,000–$74,000 as support. In their assessment, a move back above $80,000 would signal stronger demand, while a decisive drop below $73,000 could expose $68,000. CoinShares managing director Marc des Ligneris said investors were still paying more to hedge in options.